New York, Aug. 06, 2019 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Capsule Endoscopy market was valued at USD 0.60 Billion in 2018 and is expected to reach USD 1.30 Billion by year 2026, at a CAGR of 9.0 %. The study covers the capsule endoscopy procedure used for the medical examination of various chronic diseases. Endoscopic capsules are available for a variety of endoscopy processes ranging from gastrointestinal tract inspection, respiratory tract inspection, reproductive tract inspection, etc. Modern capsule endoscopy process is disrupting the market by enabled to have a 360-degree view of the medical inspection.

Rising prevalence of chronic diseases, gastrointestinal infections, peptic ulcers, bowel tumors, abdominal bleeding would result in the growth of the capsule endoscopy market globally. Significant focus of healthcare companies on development of modern technology in capsule endoscopy, availability of public as well private funds for research, and favorable regulatory scenario, are some of the key factors propelling market growth in the industry. However, cost associated in the procedure, availability of other medical examination procedures like ultrasound, global supply chain of the associated equipment, are the major hinderances that would affect the growth of the capsule endoscopy market during 2019-2026.     

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Further key findings from the report suggest

  • Capsule Endoscopy market is growing at a CAGR of 10.1 % in Asia Pacific followed by North America and Europe, with 9 % and 8.7 % CAGR, respectively. High disease prevalence across the globe is the key factor to accelerate the market growth during forecast period across all regions.
  • Among the various components of this industry, capsule endoscopy takes up the majority market share, which is around 50 %, the rest is accounted by data recording devices and workstations.
  • The global capsule endoscopy equipment market is dominated by established giants. New entrants have a good scope to come up with technical advancements in the existing products however, good sources of funding needed.
  • Ageing population, beyond 65 years of age is expected to rise substantially from the previous decade, which lays down a lucrative opportunity for the market.
  • Asia Pacific is expected to account for the 19.7% of the global capsule endoscopy Developing nations such China, and India are likely to witness high growth for the period.
  • Penetration level of healthcare facilities into the untapped regions across the globe would hinder the growth of the capsule endoscopy market.
  • Rising rate of various chronic diseases like cancer, is going to be one of the most important drivers of the market.
  • Key participants include Olympus Corporation, RF System Lab, Given Imaging Ltd., Chongqing Jinshan Science & Technology Company, Fujifilm Corporation, Intromedic Co Ltd., CapsoVision Inc.

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Segments covered in the report:

For the purpose of this report, Reports and Data has segmented the capsule endoscopy market on the basis of product type, application type, component type, end use, and region:                     

By Product Type (Revenue, USD Million; 2016–2026)

  • Colonic capsule
  • Bowel capsule
  • Esophageal capsule

By Application Type (Revenue, USD Million; 2016–2026)

  • Gastrointestinal tract
  • Respiratory tract
  • Female reproductive tract
  • Ear
  • Urinary tract

By Component Type (Revenue, USD Million; 2016–2026)

  • Wireless Capsule
  • Image recorder
  • Image workstation

By End Use (Revenue, USD Million; 2016–2026)

  • Hospital
  • Clinic
  • Research centers
  • Others

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Regional Outlook (Revenue in USD Million; 2016–2026)

  • North America
    • U.S.
  • Europe
    • France
    • UK
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle East and Africa

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